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REO High Percentage of Cash Sales

According to a recent post by CoreLogic, REO sales accounted for over half of cash property sales in the United States in July 2014. Among cash sales, REO far outstrips resales, new construction, and short sales by a wide margin. Furthermore, Florida shows the largest share of these cash sales of any state, at 49.7%. Measuring by statistical areas by population, REO sales were highest in several Florida areas including West Palm Beach (highest at 57.9%), Cape Coral/Fort Myers, Miami, and Sarasota/Bradenton.

Still, REO sales in general remain on a downslope according to recent data. They made up only 7.1% of total sales in July, compared to three years ago when REO sales were at 23.9%. Month-by-month, cash sales remained mostly flat from June to July of this year.

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Testimonials

This is the cleanest home I have ever turned over from a GC – GREAT JOB!!

Details

Thanks so much for the updates Erin, you guys are the best!

Keeping on Top

You are making me a very happy Realtor. I appreciate your quick response in handling everything.

Relationships

You guys have been doing great work for me, thank you.

Consistency

I trust you guys, and know you can do what I ask well. Not many REO vendors would be able to perform to a standard I would accept in my home. I think you guys are the best.

Trust is Key

Great job on the updates and communication – you guys literally the only SAM vendors keeping up and on top of the details like this.

Communication

Even though your company is expanding you still treat us like VIP. Whenever we have a question or need a solution you’re the contractor we call and will continue to do so.

VIP Service

Erin, I just wanted to mention, you are one of the top professionals we have ever worked with. We appreciate your efforts every day, as well as Chad’s. Please expect us to keep selecting Phillips Contracting as the number 1 GC for us.

Professional to the Core

I truly appreciate you, Phillips, as a general contractor. You are very quick and really take care of us in emergency situations. Thank you for all the hard work you do and the time you put aside for us. Al and I really appreciate that. We’re happy we have such a good relationship and we’re looking forward to a lasting one for years to come!

Confidence

Thank you Erin as well for the detailed updates as we have moved along. Sometimes on our end we feel like we are in a black box and always have to ask for updates from the contractors (and don’t always get it), so your proactive approach is greatly appreciated. Please keep up the good work.